old fogey

More on the Fannie/Freddie Heist

Dollar death spiral will end the Federal Reserve banking system, causing pain to both rich and poor alike. Putting off the inevitable will just expand the tenacles of despair.

Credit and non payment therof consumes more than just the profits of a transaction; it usurps the underlieing capital.

The social welfare system will collapse as well.
People will have to work for sustenance ... COD will return to the market place .... the form of cash will change ... barter and black or underground are already beginning to flourish.
Free markets will always exist, even if they be called black.

The earth has not unlimited resources for an unlimited population.
Earth population may diminish, reducing the consumption of resources, a very bleak picture; the rebalancing act.